ANNUAL REPORT 2008/09 - Sonova

1,000 CHF 31.03.2008
Due
less than
3 months
Due 3
months to
1 year
Due 1 year
to 5 years
Due more
than 5 years
Short-term debts 505 215 720
Derivatives – negative replacement value 28 28
Trade and other short-term liabilities 103,146 22,225 125,371
Total current fi nancial liabilities 103,679 22,440 126,119
Mortgages 97 234 331
Other non-current fi nancial liabilities 703 703
Total non-current fi nancial liabilities 800 234 1,034
Total fi nancial liabilities 103,679 22,440 800 234 127,153
Hedge accounting
The Group hedges its net foreign currency exposure based on future expected cash in- and outfl ows.
The hedges have a duration of between 1 and 12 months. No hedge accounting has been applied to these
hedges, since they do not qualify for such treatment under IAS 39.
Positive replacement values from hedges which do not qualify for hedge accounting are recorded as
fi nancial assets at fair value through profi t or loss (Note 12) whereas negative replacement values are
recorded as fi nancial liabilities at fair value through profi t or loss.
As of March 31, 2009, the following currency contracts with the following notional and fair values
were open:
1,000 CHF Notional amount of forward contracts/derivatives
Due
less than
3 months
Due 3
months to
1 year
Due 1 year
to 5 years
Due more
than 5 years
Total
Total Fair value
Positive replacement values 58,418 25,221 83,639 2,528
Negative replacement values 7,514 7,514 (35)
Total 65,932 25,221 91,153 2,493
CONSOLIDATED FINANCIAL STATEMENTS
93